Boku Welcomes New CEO Stuart Neal After Momentous 2023
18 January 2024 - 8:57PM
Business Wire
- Stuart Neal appointed CEO on 1 January, having served as CEO
Designate for the past six months
- Neal previously served as Boku’s Chief Financial Officer and
Chief Business Officer of Boku’s Identity Division
- Neal’s appointment follows landmark year for the business,
including expanding its partnerships with Local Payments Methods to
over 300, reaching over 7.5 billion consumer payment accounts in
more than 90 countries
- Jon Prideaux appointed Non-Executive Director of Boku
Boku Inc (LON: BOKU), the global network for localized payment
solutions, has appointed Stuart Neal as Chief Executive Officer,
effective 1 January 2024, and as a Director of the Company,
effective 17 January 2024. Neal takes the helm from Jon Prideaux,
who announced his intention to retire in July 2023, and will remain
on the Board as a Non-Executive Director.
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Stuart Neal, CEO, Boku Inc. (Photo:
Business Wire)
Boku is revolutionizing the payments industry with technology
that enables payment choice. Its global network of localized
payment solutions, which includes Direct Carrier Billing (DCB),
digital wallets and Account-to-Account (A2A) connections give
people the freedom to pay for their favorite goods and services
using their preferred payment method - no matter where they are in
the world. Boku’s customers are global merchants including industry
giants Amazon, Google, Meta, Microsoft, Netflix, Spotify, Tencent
and Sky.
Local Payment Methods (LPMs) now represent two-thirds of all
global online payments – a significant rise from 2010, when they
accounted for one quarter of all online payments. During the first
half of 2023, Boku continued to expand its network to over 300 LMPs
across 60 countries and saw rapid customer adoption - with over 32
million new consumers making their first purchase with Boku.
Globally, Boku’s network reaches over 7.5 billion consumer payment
accounts in more than 90 countries.
Boku CEO Stuart Neal brings more than 20 years of payments,
banking and innovation leadership experience to Boku, combined with
a deep understanding of the Boku business. He previously served as
Boku’s Chief Financial Officer between 2011 and 2014 and again
between 2017 and 2019, seeing the company through soaring demand
and its IPO. Neal returned to Boku in 2022, where as Chief Business
Officer of Boku’s Identity Division, he led the division’s growth
and acquisition by Twilio. Neal re-joined Boku as CEO Designate in
July 2023 after Jon Prideaux announced his plans to retire. During
the course of his career, Neal has also held senior leadership
positions at companies including Barclaycard, Featurespace,
VocaLink, GlaxoSmithKline, and Virgin Media.
As CEO and company director, Stuart will continue to build on
Boku’s commercial momentum and drive innovation, as the company
executes its mission to enable payment choice globally and unlock
new growth for merchants.
“I am excited to return to Boku as CEO at such a dynamic and
promising time for the payments industry,” commented Stuart
Neal, CEO, Boku. “Our mission at Boku is to empower people
everywhere to pay for the services they love the way they want, and
allow global merchants to seamlessly offer localized payment choice
and unlock new growth. I look forward to leading the phenomenal
Boku team as we continue to innovate and forge new partnerships,
creating the global network of localized payment solutions and
giving both merchants and consumers real payment choice.”
Jon Prideaux, Non-executive Director and former CEO at Boku,
said; “We've secured partnerships with all the major tech
players, successfully expanded beyond carrier billing and
established ourselves as a global force in local payments - driven
initially by e-wallets and later by account-to-account payments.
It's the perfect time to pass the baton to someone who can lead the
Company into its next chapter. Knowing Stuart well, I believe he is
the ideal candidate to continue the strategy we have set out.”
Notes to editors.
About Boku Inc.:
Boku helps people pay the way they want to by building a global
network of localized payment solutions including digital wallets,
direct carrier billing, and account to account / real-time payments
schemes. Boku’s global payments network now includes over 300 local
payment methods worldwide, reaching over 7.5 billion consumer
payment accounts in more than 90 countries. Boku works with the
world’s largest merchants including Amazon, Google, Spotify, Meta,
Microsoft, Netflix, Spotify, Tencent and Sky, helping them to grow
their businesses in every corner of the globe.
Boku Inc. was incorporated in 2008 and is headquartered in
London, UK, with offices in the US, India, Brazil, China, Estonia,
France, Germany, Indonesia, Japan, Singapore, Spain, Taiwan and
Vietnam.
To learn more about Boku, please visit our website at
www.boku.com.
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